g5000
Diamond Member
- Nov 26, 2011
- 138,705
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In January of this year, consumer confidence was 71.5.
By May, it had plunged to 52.2. From May 27 to June 23, it rose to 60.7.
The low point during the Biden administration was 50.0 in June 2022, which was the lowest in recorded history.
Consumer confidence is about to get lower.
Foreseeing Trump's impending hike in taxes (tariffs), many American importers ramped up their imports before Trump's tax hike was inflicted on them..
Eventually, though, those goods will be depleted and our importers will have to start importing again and pay Trump's tax hikes, which will then be passed on to all of us.
This has already started.
.
Procter & Gamble — the maker of Dawn dish soap, Charmin toilet paper, Crest toothpaste and Tide detergent — said Tuesday it would raise prices on about a quarter of its products starting in August in part because of the $1 billion tariff hit it expects annually.
.
[snip]
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P&G’s move could be a harbinger of increasing prices, including on groceries, household staples, apparel and electronics. While spending data shows Americans are looking for bargains, economists warn that such price increases will further strain consumers battling stubborn inflation, high interest rates, and rising personal debt and energy costs.
.
[snip]
.
Some retailers have already started raising prices. Walmart, a bellwether for the industry and U.S. consumer, has targeted baby gear, kitchenware and toys — items mostly manufactured in China. Industry experts expect some groceries will soon follow. The Trump administration’s 50 percent steel and aluminum tariffs will lead to higher food and beverage packaging costs, such as coffee tins and beer cans, many manufacturers say.
.
I've been saving my grocery receipts for the past couple of months so I will have objective empirical data to study. I particularly am paying attention to the price of coffee and other beverages.
My utility bills have also been going up dramatically this year. It's unbelievable.
.
By May, it had plunged to 52.2. From May 27 to June 23, it rose to 60.7.
The low point during the Biden administration was 50.0 in June 2022, which was the lowest in recorded history.
University of Michigan: Consumer Sentiment
View an index of the results of the University of Michigan's monthly Survey of Consumers, which is used to estimate future spending and saving.
fred.stlouisfed.org
Consumer confidence is about to get lower.
Foreseeing Trump's impending hike in taxes (tariffs), many American importers ramped up their imports before Trump's tax hike was inflicted on them..
Eventually, though, those goods will be depleted and our importers will have to start importing again and pay Trump's tax hikes, which will then be passed on to all of us.
This has already started.
.
Shoppers are stressed, but some brands are raising prices anyway
Americans, up against tariff uncertainty and steadily rising grocery costs, are going to see some household staples get pricier in the coming days.Procter & Gamble — the maker of Dawn dish soap, Charmin toilet paper, Crest toothpaste and Tide detergent — said Tuesday it would raise prices on about a quarter of its products starting in August in part because of the $1 billion tariff hit it expects annually.
.
[snip]
.
P&G’s move could be a harbinger of increasing prices, including on groceries, household staples, apparel and electronics. While spending data shows Americans are looking for bargains, economists warn that such price increases will further strain consumers battling stubborn inflation, high interest rates, and rising personal debt and energy costs.
.
[snip]
.
Some retailers have already started raising prices. Walmart, a bellwether for the industry and U.S. consumer, has targeted baby gear, kitchenware and toys — items mostly manufactured in China. Industry experts expect some groceries will soon follow. The Trump administration’s 50 percent steel and aluminum tariffs will lead to higher food and beverage packaging costs, such as coffee tins and beer cans, many manufacturers say.
.
I've been saving my grocery receipts for the past couple of months so I will have objective empirical data to study. I particularly am paying attention to the price of coffee and other beverages.
My utility bills have also been going up dramatically this year. It's unbelievable.
.
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